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Search Results 0 to 34 of about 35 (some duplicates have been removed)
of those worries about the fiscal cliff and maybe slower growth in trust economy, the stock market has had a great year. too bad you missed out. the smart money has been in the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo, hundreds of millions of people like facebook, but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users, pummeled the stock, which is on its way back to the ipo price. >>> number seven, mother myer. the new ceo of yahoo! who announced she was just going to take a two-week maternity leave. >> number six, mother nature, an intense drought in the midwest that scorched the corn and soy crop sending prices sky high. >> the ocean is just beyond. >> and who can forget superstorm sandy? millions of neighbors, their houses swept away without power, damages, and raising questions about infrastructure and whether we should be spending some money to fix it. >>> number five, china, is china slowing or leading the world? we do kno
to show for itself after two years. coming up next, how the massive gains in the fiscal cliff could impact your 401k and the economy. stay with us gerri: big tax hikes set to t gerri: you make it, they take it. 23.8% is the raise that policymakers will see on capital gains. chris edwards joins me now. he is director for tax policy studies at the cato institute. i would like to show people what we're talking about. he gets confusing for people. we have a current tax rate, 15%. on january 1, the capital gains tax rate will jump to 23.8%. i talked to a lot of my friends and they say that's not a big dumb. what you say? >> it is a big jump. if you add state taxes on top of that, the united states will be up to 20%. our major trading partners, britain and europe and canada -- they are only 16%. so there is a very good reason why just about every industrial country has a really low capital gains tax rate. that's because policymakers just about everywhere know that low capital gains tax rates are crucial for a growth of economy and entrepreneurship and high-technology industries. gerri: so what i
the bill through without pulling the fiscal cliff, our economy will improve the tax revenues from that will be more than he would get from the rich now. host: appreciate the call. let's go to oklahoma, a line for republicans. caller: i am so disgusted with both political parties. it seems they are putting their party before their country. and i want these politicians to know they are the ones that have been up there for years and spent all this money and now the average person will be the one who will have to pay, and i believe they are being bought off by the 2%. right is right, wrong is wrong, and to take away from the needy and cut food stamps from people who qualify -- it takes an act of congress to qualify. i cannot understand that these people are protecting the 2% of the country. host: jefferson city, missouri, you are on. go ahead. caller: yeah, i think boehner should be removed from the speaker of the house, and president obama should be in and his entire staff, including hillary clinton. i do not know if you have noticed but nancy pelosi, her eyes are consistently dilate
. that is being discussed as part of a fiscal cliff deal but money believe that will hurt the economy and giving a disincentive to invest money. is that just focused on the real wealthy? >> i hear that argument a lot. number one, i'm really tired of our tax policy decisions and everything being made by what the market is going to do in the next quarter. look, this is an aberration and the tax code and grossly unfair. you look at say they raise tax rates, the top tax rate to 39.6% for those making more than $500,000, that's going to mean a lot of small businesses are going to pay that nearly 40% marginal tax rate where you have billionaire private equity funds paying 15, 20 or even 24 depending on where they put it. not an issue of penalizing investment income but penalizing labor and those who make their income through wages and they should both be taxed at the same rate. i do, again, fundam and at least raising the capital gains rate would help address this anomaly and susan collins and clara mccasical give legitimate -- you have billionaire equity managers paying 39%. i think this is a source
seen on tv. as we head to a break, the u.s. economy held hostage. the fiscal cliff stakes in the words of a corporate competitive. >>> my name is richard phillips. i'm the ceo of pilot freight services. we move the nation's most critical freight all over the world and employee 2,500 people. if the nation fails us and we go over the fiscal cliff, we will feel the impact immediately. capital goods will slow down and we will feel it everyday. we will buckle down and move to strategic advantage. we electude lead, not to follow the hard left and not to follow the hard right. govern from the middle and lead. little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobile app. you can stay in and like something... or you can get out there and actually like something
as members of congress return to washington to address the fiscal cliff. talks will take place behind closed doors. no public negotiations set. you have the debt and the fiscal cliff. it's not looking too good right now when it comes to the u.s. economy. >> geithner told congressional leaders that his department is using some accounting measures basically a fancy way of saying they're going to free up cash to hold off temporarily this fiscal cliff. but it's still not looking good. >> i don't know about you at home, but kicking the can down the road has been happening over and over again. somebody has to make some decisions here. >> it's like in this business, they give you a deadline and you have to hit the deadline. there's no coming in and saying take another ten minutes. it don't work that way in real life. there are americans out there saying get off your couches. get back to washington and get the deal done. >> sometimes it's not pretty when you have to rush, but get it done. >>> still on the economy now, new signs of a turn around in the real estate market. for the first time since 200
. state department says it is willing to talk more about keeping the children safe. >>> fiscal cliff isn't the only threat to the u.s. economy. get a load of this. the container cliff. nearly 15,000 dockworkers from maryland to texas are threatening to strike, starting sunday, which could shut down more than a dozen key shipping ports and cripple commerce across the country. dock on workers are demanding higher container royalties to boost their pay. >>> did the newtown school shooter have an evil gene? scientists at the university of connecticut will study adam lanza's dna to see if a mutation or ab normality could have made him more violent? this is the first study of its kind on a mass killer. >>> jockeying started for john kerry's senate seat, even before it's vacant. massachusetts congressman ed markey throwing his hat into the ring in kerry becomes secretary of state, which is expected, a special election will be held early this summer. markey is the first prominent candidate to declare for the race. >>> love this story. paying it forward by paying it backward. a story of rampant g
, for 2013. bill? >> i think it will be a year of foreign policy, all the talk about the fiscal cliff is interesting and we'll stumble along and the economy will stumble along and, i think we will have big foreign policy challenges an crises with respect to iran, afghanistan, syria, and i think that will be the dominant preoccupation of the year. >> chris: when it comes to iran which i know, is still a preoccupation of yours, a year from now will we talk about the diplomatic deal that has been accomplished, military action taken or the fact we are still then same mess. >> i think the military action that will have been taken. >> chris: by us or israel. >> i don't know. >> chris: well that is enough. there you go. senator bayh. >> believe it or tho not, the election is over but another one is always about to begin and i think you will see the vice president, probably making trips, at some point in the first half of the year to places like iowa and new hampshire, just to pick states at random, because he would like to set the stage for the next -- winning the democratic presidential nom
if a budget deal is reached in washington. if if the u.s. economy falls off the fiscal cliff, it will have an impact around the world. haus sirken is a partner and fellow of the overseas markets and joins us from chicago. thanks for being with us on this weekend. the idea -- >> great being with you, martin. >> thank you. the idea of the world being affected by the fiscal cliff problem here in america wasn't really lost on the president after his meeting with congressional immediate leaders yesterday. let's listen. >> i'm modestly optimistic that an agreement can be achieved. nobody is going to get 100% what have they want. but let's make sure that middle class families and the american economy and, in fact, the world economy, aren't adversely impacted because people can't do their jobs. >> so that begs the question, hall. how are other countries preparing for this really precarious situation and one in which they really have no control. >> well, martin, there's not much they can do to prepare. what will happen, if the fiscal cliff turns out to take place, is that we'll start to see the eco
. you're in "the situation room." the u.s. is now just six days away from the so-called fiscal cliff. and a mad scramble is on here in washington to avoid the drastic tax hikes and spending cuts that many fear will plunge the economy back into recession. president obama flies back from hawaii tonight to be ready if the senate comes back with a plan when it returns to work tomorrow. and house leaders are huddling with members on stand-by to return. senior congressional correspondent dana bash is following all of it for us. what are you hearing? >> there was a conference call of course members of the house leadership even, they're back in their districts, but there was a conference call today among those house republican leaders trying to figure out if and when the house should come back into session. two republican sources tell me they did not make a decision on this call. it's still up in the air. and a big reason for that is if anything can get done in the next six days, the ball is in the senate's court. the capitol is a ghost town. neither chamber in session. an eerie calm since t
that happens is hit the sequestration, the things that the fiscal cliff will bring of the that's why. i'll take the medicine, the pain now for a healthier economy going forward. >> kelly: there are a lot of economists who agree because they're saying if we go through this, it will be pain for everybody, 2,000, $4,000 added to our tax for the next year or so. and potentially, after that we will rebound and all those automatic spending cuts will go into effect. >> juliet: we've been following this drama involving hobby lobby. the company plans to defy a federal mandate that came out. it required it to offer the morning after pill. and hobby lobby, the owners of the company say, but they don't want to do that. it defies what they believe. they're going to be defying this order. they're going to risk fines of up to $1.3 million per day because they said on principle, we can not do this. >> kelly: here is the reason why. they're a faith-based organization. even though they're in business. this is a faith-based business and this would go against their belief that they should not be involved in this k
. unwilling and unable erhaps, for what will ensue of the fiscal cliff. but the fact is that we are looking at a real prospect that the republicans will be held responsible and must plan be actually has the effect of shifting some of the responsibility to the president read what you think are the odds? >> i think he will be held responsible for the economy in 2013 and 2014. you cannot blame george w. bush anymore. they control the senate. it is their economy for sure. so i think that you're going to see a real problem in 2013 and 2014, but i do think it's obama's economy now. the republicans passed the tax cuts for one group, let's say all the way through, not the very top group, i don't know where that negotiation is going to come out, but if they do that, i think that they will be held blameless for the economy. lou: as we wrap up here, i would like to ask you a question this way. because i said last year that i felt strongly at the beginning of the campaign. the democrats were the republican -- the democrats or the republicans, which party led the discussion to the enduring that of the m
. this could have a very, very bad impact on the economy as a whole. it is called the fiscal cliff. for that reason. a plan to stop it all from happening still eludes washington. so congress has broken camp for the holidays, the president has gone to hawaii on vacation. white house correspondent brianna keilar tells us no one is really talking, anyone, to get this solved. at least not here at christmas. >> reporter: senate democrats are not in conversations right now with senate republicans or with house republicans. and this is problematic obviously because in order to avoid the fiscal cliff, you would need to find some sort of deal that would make it through the senate and the house and that would mean democratic and republican support. right now, all eyes on the senate because they will reconvene on the 27th that is thursday. and senate majority leader harry reid, it is up to him really to cobble together something that can get some of that support. right now the white house is still supporting a threshold of $250,000 back to their initial starting point for tax rates going up f
? >>> fears of the fiscal cliff are taking some of the holiday cheer right out of wall street. cnn's alison kosik watching the post-christmas trading as well as a threat to the economy that could come even sooner than the cliff? let's start with the stocks, though. >> reporter: yes, stocks, very quiet today, very quiet session. not many investors in the game today. expect that to be the case the rest of the week. the fun tny thing, this is usuay the time we see the santa claus rally. the dow down 46 points. no deal on the if i'm not mistaken. that's spoiling the rally so far. it could be worse, though. we've seen much harsher reaction to all the congressional shenanigans in the past that could be a sign the economy is in better shape this time around. the s&p 500 is still on track for a 13% gain for the year. >>alison, what's the container cliff? >> reporter: the container cliff could be serious stuff. it could be a major threat to the economy. but it's also something that can be avoided. this container cliff is the name the national retail federation has given to this situation if workers
to see you. >> good morning. >> dave: it's funny, we're talking about the fiscal cliff stuff and jobs seem to be left out of the conversation. we haven't heard about much to jump start the economy. tell us what the jobs act is. >> first of all, the financing cliff, you can either raise taxes, cut spending or grow the economy. there has been very little discussion about growth. congress did something great and president obama signed it. it was called the jobs act. it was about growth and a lot of growth through innovation. what it did is made easier forebitt entwhistles to raise money. they could crowd funds, go out to more people before having these commission regulations, they could do many other things they couldn't do under the present law. but it did require the security and exchange commission to issue some rules. it turns out those rules have still not been issued. it's been about a year now and they've been held up because the chairman of the sec, chairwoman, shapiro, no relation to me, decided to sit on them because she was concerned about her legacy, according to some e-mails
in honolulu with friends. with the house hopelessly deadlocked any chance of averting the fiscal cliff will start in the senate and there's a bit of news on that front. our white house correspondent brianna keilar joins us live from honolulu, hawaii. so a slight bit of news. do tell. >> reporter: i hesitate to even say it's a slight bit of news because it's sort of exactly what we would expect, to be honest. the white house is talking about senate democrats about what senate majority leader harry reid will have to cobble together when the senate reconvenes on the 27th and that's really the last-ditch effort. it's seen as the senate trying to do something that can also pass the house, so this is exactly what you would expect. the real problem though is as of this morning, just a week out from when the fiscal cliff is expected to hit. there's no discussions between congressional democrats and congressional republicans even on the staff level. this is what democratic and republican sources are telling me, and overall just to remind people, instead of this being -- here's what we expect. i
, it is discouraging. how do you explain, can you blame it on the fiscal cliff? we see unemployment numbers not breeding -- modeling a long and it is not adding up. that sentiment number should have been higher. a lot of people are saying it is truly recovered. stuart: we are down 4 points. >> doesn't make sense. stuart: president obama back in washington and the senate is back in session. harry reid is addressing the senate. this is days before the fall off of the fiscal cliff. senate democrats are telling republicans get out of the way of a last-minute deal, accept tax increases for people making $250,000 a year. get out of the way. accept that. joining us is the founder of the media research center. blame if problem is spending and neither side is being serious about spending. neither side is. stuart: when you put your finger on it. they are politicians, are they not? they have to have in the back of their mind, they are politicians. they have to bear in mind the next election can they get reelected? can any politician get reelected by saying i am going to cut entitlements, cut spending?
and will continue this morning. as washington teeters on the edge of the fiscal cliff, there is still no deal. as talks continued overnight, a voice of frustration erupted on the senate floor. >> something has gone terribly wrong when the biggest threat to our american economy is our american congress. >> reporter: the republican and democratic senate leaders negotiated all weekend long. the talks hit a brick wall. harry reid saying he was unable to even counter the latest republican offer. >> at this stage, we're not able to make a counteroffer. it appears that there are things that stop us from moving forward. >> reporter: that prompted mitch mcconnell to call for a lifeline. >> i also placed a call to the vice president to see if he could help jump-start the negotiations on his side. i want everyone to know i'm willing to get this done. but i need a dance partner. >> reporter: and with that, vice president biden has now emerged as a key player, playing a direct role in the effort to strike a last-minute deal. the key sticking points remain the same. the white house wants taxes to go up on
to avoid the fiscal cliff? if so, what are they? >> well, obviously, there are cuts in the budget. we know we have to cut some of the mandatory programs and do other cuts, but it has to be accompanied with revenues. willie, i'm getting a little more optimistic today. sometimes it's darkest before the dawn. there are two good signs for optimism today. one is that leader mcconnell is actively engaged. you can't pass anything in the senate without democratic and republican votes because of the 60-vote barrier. we only have 53. for the first time, leader mcconnell is speaking to the president. if the senate is going to be the place where action starts, you need both of them there. the second reason for optimism is boehner is back at the table. because you can't pass something just through the senate. we see what a mess the house is. they couldn't even pass speaker boehner's own plan b. the fact that he's come back and the four of them are at the table means to me we could come up with some kind of agreement that would avoid the main parts of the fiscal cliff, particularly taxes going up on mid
Search Results 0 to 34 of about 35 (some duplicates have been removed)